One of the trickiest issues for ESOP companies with strong cultures is how to determine if people from outside the company being considered for leadership positions will fit well into the company’s culture.
Under ERISA, the ESOP trust is the legal owner of the shares in an ESOP. The trustee votes these shares, usually at its discretion but occasionally at the direction of plan participants. That includes voting for the board.
Huawei Technologies is the largest telecommunications equipment manufacturer in the world and the second-largest manufacturer of smartphones. It has close to 200,000 employees worldwide, mostly in China.